Question

1. Real GDP per person in both Zagland and Gaelland equals $2,000. Over the next 100...

1. Real GDP per person in both Zagland and Gaelland equals $2,000. Over the next 100 years real GDP per person grows at 1.5 percent annual rate in Gaelland and at a 2.5 percent annual rate in Zagland. After 100 years real GDP person in Gaelland is ______ smaller than real GDP per person in Zagland. *

$2,000

$7,382

$14,763

$24,954

0 0
Add a comment Improve this question Transcribed image text
Know the answer?
Add Answer to:
1. Real GDP per person in both Zagland and Gaelland equals $2,000. Over the next 100...
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
  • 1. Suppose that in 2016 real GDP per person in Greenfield was $35,215. In 2015, real...

    1. Suppose that in 2016 real GDP per person in Greenfield was $35,215. In 2015, real GDP per person in Greenfield was $34,560. What was the growth rate of real GDP per person in Greenfield for 2016? A. less than 2.0 percent B. more than 2.0 percent but less than 2.3 percent C more than 2.3 percent but less than 2.6 percent D. more than 2.6 percent but less than 2.9 percent E. more than 2.9 percent 2. Which of...

  • Richland’s real GDP per person is $5,000, and Poorland’s real GDP per person is $2,500. However,...

    Richland’s real GDP per person is $5,000, and Poorland’s real GDP per person is $2,500. However, Richland’s real GDP per person is growing at 2 percent per year, and Poorland’s is growing at 4 percent per year. Compare real GDP per person in the two countries after 10 years and after 20 years. Approximately how many years will it take Poorland to catch up to Richland? Instructions: Enter your responses as whole numbers. GDP per person GDP per person after...

  • If real GDP per person in a country equals $40,000 and 60 percent of the population...

    If real GDP per person in a country equals $40,000 and 60 percent of the population is employed, then average labor productivity equals: Multiple Choice $66,667. $60,000. $24,000. $40,000.

  • United States GDP per person was approximately $59,500 in 2017 [CIA World Factbook 2018]. Measured in...

    United States GDP per person was approximately $59,500 in 2017 [CIA World Factbook 2018]. Measured in imilar dollars, Canada's GDP per person was approximately S48,300 in 2017 . Measured in a] In percentage terms, how much greater w as US GDP per person than Canadian GDP per person in 2017? Hint: employ the following formula: Percentage difference-((US value-Canadian valueycanadian value) x 100% b] Assume US GDP per person grows 2 percent per year over the subsequent 100 years, while Canadian...

  • Using the following data, calculate the annual growth rate of real GDP per person for China...

    Using the following data, calculate the annual growth rate of real GDP per person for China for the years in the table. Year Real GDP per Capita (in 1996 U.S. dollars) 2000 4,001 2001 4,389 2002 4,847 2003 5,321 2004 5,771 Calculate the annual growth rate of real GDP per person for China for the given years. Round your answer to the nearest tenth of a percent. Growth rate, 2001: % Growth rate, 2002: % Growth rate, 2003: % Growth...

  • question 10......Suppose a country a real GDP of $100. What will the size of the GDP...

    question 10......Suppose a country a real GDP of $100. What will the size of the GDP be after 3 years if the economy grows by 2.5% each year? Completion Sat O 1102.50 0 stars 075e QUESTION 11

  • Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .

    Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .Today the RGDP per capita in A is _______ times the value in B.Country A is growing at a rate of 3.5 % per year and Country B is growing at a rate of 7 % per year. Assume these growth rates do not change.Country A will double its RGDP per capita in _______ years...

  • 1.         Consider the case where real GDP and population are both growing, and real GDP is growing...

    1.         Consider the case where real GDP and population are both growing, and real GDP is growing faster than population.  Which statement below is TRUE? A         Real GDP per capita would increase and faster than real GDP. B          Real GDP per capita would increase but slower than real GDP. C          Real GDP per capita would remain the same. D         Real GDP per capita would fall. Questions 2 and 3.  Both Cowen and Tabarrok (Figure 7.1) and the Hans Rosling video illustrate the robust empirical truth that the...

  • 1. If nominal GDP in 2016 equals to $4,500 and real GDP for the year is...

    1. If nominal GDP in 2016 equals to $4,500 and real GDP for the year is $4,000 (in 2009 dollars), The GDP deflator in 2016 is and the rate of inflation since 2009 is a. 112.5, 12.5 percent. b. 88.9,-11.1 percent 12.5, insufficient information for the calculation of the rate of inflation. 11.1, insufficient information for the calculation of the rate of inflation. c. d. 2. Actual GDP is run. a. above, above b. below; below c. below; above d....

  • Solve for part B please. A) Real GDP per Capita in the US is currently $56,000...

    Solve for part B please. A) Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each year. Real GDP per Capita in China is currently $8,000 and grows at approximately 6.5% each year. If these growth rates continue, Real GDP per Capita for each country will be equal in how many years? Answer: 41 B) Refer to the previous problem where Real GDP per Capita for Nigeria fell between 2016 & 2017. During this...

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT